FinTech

The United States is the largest financial services market in the world. For an international business, expanding operations to the U.S. can facilitate capital-raising efforts, provide access to one of the world's deepest talent pools and create significant market opportunities. However, entering the U.S. market can be daunting for international businesses due in large part to its complex regulatory framework. This is especially true in the FinTech space, as a FinTech firm may be subject to oversight from a multitude of federal and state regulators, which can lead to regulatory uncertainty and significant compliance burdens. This guide provides an overview of the likely legal considerations, as well as potential pitfalls, for a FinTech firm looking to expand its business to the U.S. While this overview is not exhaustive, and every factor may not be relevant to every business, the considerations outlined below are intended to help direct your further questioning and are intended to focus your attention on potential issues that should be addressed. Shearman & Sterling is one of the leading firms advising financial institutions globally, and we have had the opportunity to work with many FinTech firms growing their businesses in both the U.S. and abroad. We have a breadth of experience advising clients in the FinTech space, including matters related to blockchain, digital assets, payments, peer-to-peer lending, AI and big data. We recognize that growing a FinTech business can be both challenging and exciting and requires a great deal of commitment. We will work closely with you to ensure that your entry into the U.S. is as seamless as possible and that you are best positioned for success. INTRODUCTION Attorney Advertising. This memorandum is intended only as a general discussion of these issues. It should not be regarded as legal advice. We would be pleased to provide additional details or advice about specific situations if desired.

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